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Future Of The Dollar

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jbuck's Avatar
United States
188660 Posts
 Posted 09/19/2008  10:42 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
No, they cannot legally. Coins are sold to the Federal Reserve, the Fed sells them to the banks, the banks sell them to the people. Coins are property, which ownership of is given to us by our Natural Rights and is protected by the Constitution.

However, when has this stopped them before?
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lincolncollector's Avatar
United States
373 Posts
 Posted 09/19/2008  9:51 pm  Show Profile   Bookmark this reply Add lincolncollector to your friends list Get a Link to this Reply
Coins go straight from the mint to the Fed to the banks to us.

Who tells the mint how many coins to mint?

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biggfredd's Avatar
United States
9104 Posts
 Posted 09/19/2008  10:25 pm  Show Profile   Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
the fed
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jbuck's Avatar
United States
188660 Posts
 Posted 09/19/2008  11:01 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
AFAIK, that is correct. Mintage is based on what the Fed orders.
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Brewzz's Avatar
United States
199 Posts
 Posted 09/20/2008  10:08 am  Show Profile   Bookmark this reply Add Brewzz to your friends list Get a Link to this Reply
And,why is the fed minting these new Dollar Coins?With the value of the dollar today,who is going to carry around a bunch of dollar coins in their pocket?!A dollar doesn't buy much these days...They should be minting $5 coins instead.....Just my thoughts...
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trdhrdr007's Avatar
United States
2335 Posts
 Posted 09/20/2008  10:21 am  Show Profile   Bookmark this reply Add trdhrdr007 to your friends list Get a Link to this Reply
I think minting the dollar coins is done for one of the same reasons as the State Quarter series. It's a profit center. Think about it this way, if it costs the government 15 cents to make a dollar coin they get an interest free loan of 85 cents for every dollar that is hoarded. I wouldn't be surprised to finds out that the profit on coins hoarded by collectors makes up for a lot of the overhead of the US Mint.

I don't know if the Government can legally recall coins. I don't think they would have to. If they stopped minting/printing new money the natural life cycle of bills/coins would eventually eliminate most of them, the rest would be snapped up by collectors.
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biggfredd's Avatar
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9104 Posts
 Posted 09/20/2008  5:47 pm  Show Profile   Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply

Quote:
And,why is the fed minting these new Dollar Coins?With the value of the dollar today,who is going to carry around a bunch of dollar coins in their pocket?!

There's no reason to carry more than one, unless you use vending machines that take them.
Bedrock of the Community
United States
20753 Posts
 Posted 09/21/2008  3:44 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:

And,why is the fed minting these new Dollar Coins?With the value of the dollar today,who is going to carry around a bunch of dollar coins in their pocket?!A dollar doesn't buy much these days...They should be minting $5 coins instead.....Just my thoughts...


Since when does our government do anything logical? In reality this time they are. By continuing minting coins no one wants or uses, they don't have to worry about anyone counterfeiting them. If no one wants the real ones, no one will make fake ones. Just think about all the fake 16D Merc's, 09S VDB Lincolns, etc. Counterfeiters make theses all the time but no one will make a coin no one wants.
And by starting a series of coins that will take yearly additions, they sort of guarantee their jobs for a few more years anyway.
This would have stopped if the government would just outsourse the coin making to China. Then our coins would all be Lead, none left for toys and the toys would now be safe.
Taking a toll road today I noticed that there was only one toll booth left and about 5 what is called Ipass lanes. Those are where you pay for a thing on your window ahead of time and no longer need coins to go through. AND if you do pay with coins, the toll is now double. Coins are going away. I just wonder when kids will have a plastic card for a gum ball machine?
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jbuck's Avatar
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 Posted 09/21/2008  10:22 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I just wonder when kids will have a plastic card for a gum ball machine?
Pretty soon, probably. It seem like all of the arcades around here are "cashless" now; they do not even use tokens anymore. Everything is on a plastic card that you "fill up" at the cashier.
Edited by jbuck
09/21/2008 10:23 pm
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